Three Chinese Airlines Report Decline in Profits

Following a rise in fuel prices and weak yuan, three major Chinese airlines: Air China, China Eastern Airlines and China Southern Airlines saw a sizable drop in profits from July to September. The third quarter income of China Eastern Airlines was 33.45 billion yuan, a 13.5 percent gain in comparison to the same period last year but the profit has slumped 38 percent. The revenue for the first nine months of the year was 87.88 billion yuan and the profit…